May 29, 2007

Brazil 2006/2007 crop soy sales reach 65 percent

Soy producers in Brazil has sold 65 percent of an estimated new crop of 58.8 million tonnes by May 25, posting an increase from the 64 percent sold the previous week, private analysts Celeres said on Monday (May 28).

Though it lags the 67 percent sold a year ago, it is still level with the five-year average of 65 percent sold.

Leading soy state Mato Grosso in centre-west Brazil has sold 78 percent of its crop, edging from 77 percent the week before and even with the 78 percent sold by this time a year ago.

Celeres said no.2 soy state Parana in Southern Brazil has sold 48 percent of the expected crop against 47 percent the week before and 51 percent at this time last year.

The country's third largest soy producer Rio Grande do Sul in the southernmost state, has sold 51 percent of its crop, versus 50 percent the week before and 52 percent a year ago.

Celeres said that harvesting of the new crop are nearly complete except for few uncollected harvest in isolated areas in the southernmost state of Rio Grande do Sul remained uncollected  but they are expected to be harvested this week.